Lease Advisory
Whether you’re a landlord or occupier, there will be various points throughout the term of your lease where professional advice is required.
Our Lease Advisory team can assist you with:
- Rent reviews
- Lease renewals
- Lease restructuring (re-gearing)
- Break clauses.
We cover all types of commercial property including offices, retail and leisure and are specialists in the industrial sector.
Lease events are very important milestones of your property ownership or occupation and should not be overlooked. There is often an opportunity to improve the terms of a lease and it is important that you seek advice as early as possible to make the most out of the opportunity or to mitigate against any risks.
When providing advice, we work very closely with our Agency and Management colleagues and have access to an extensive database of comparable evidence and market data.
Our in-depth knowledge of the commercial property market and technical understanding of regulations, legal procedures and negotiating skills means we deliver the best results for our clients.
Rent Reviews
Commercial leases of any significant duration will provide for the periodic review of the annual rent. Understanding the rent review mechanism, lease covenants and having a fundamental knowledge of the market conditions are essential to ensure an accurate rental assessment at the review date.
Our Lease Advisory Surveyors are very familiar with all of the issues that arise around rent reviews and have access to a constant stream of rental evidence to underpin rent review negotiations.
Our team includes members of the RICS (Royal Institution of Chartered Surveyors) Panel of Arbitrators and Independent Experts who are regularly appointed as expert witnesses to resolve rent reviews.
Lease Renewals
The lease renewal process can be complicated, and negotiations will generally commence in the last twelve months of a lease. When dealing with a commercial lease renewal there are both legal and valuation considerations to be taken into account. This can include timing and service of statutory notices and the resolution of any contested issues.
Negotiation skills play a big part in agreeing terms of a new lease and there may be opportunities to improve lease terms upon renewal.
The advice provided by Kirkby Diamond is based on many successful years negotiating lease renewals for our clients across all types of commercial property.
Lease re-gearing
Business is a changing world and the property that suited your business at year one of a lease may not suit it in year five or ten. Throughout many lease situations, there is a need for negotiation of a variation of terms or amendments or alterations to the property to fulfil the changing requirements of a business.
Kirkby Diamond are highly experienced in undertaking such negotiations on behalf of both landlords or tenants.
Break Clause Advice
Our team of lease advisory experts have dealt with many break clauses over the past 30 years. It is a common theme within the commercial industry that all too often break notices are served incorrectly. Not all break clauses are created equal. Almost all leases will have different stipulations and must be served correctly to be valid.
It is imperative that tenants take advice to ensure that all clauses have been complied with, or else the tenant may be held to comply with the lease until the end of the term.
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